[8-K] Digi International Inc Reports Material Event
Digi International Inc. (DGII) borrowed $150 million under its existing senior secured revolving credit agreement on August 18, 2025 in connection with entering a Merger Agreement. The Credit Facility matures on December 7, 2028 and requires no scheduled principal payments before maturity. After the borrowing, approximately $70 million of availability remained under the facility. The borrowings were priced at the one-month Term Secured Overnight Financing Rate (SOFR) plus a margin of 2.25%, and the facility carries a 0.25% commitment fee. The filing notes that additional material terms, including circumstances that could accelerate or increase obligations, are described in Digi鈥檚 prior Current Report filed on December 11, 2023.
Digi International Inc. (DGII) ha preso in prestito 150 milioni di dollari nell'ambito del suo attuale accordo senior garantito di credito rotativo il 18 agosto 2025 in relazione alla sottoscrizione di un accordo di fusione. La linea di credito scade il 7 dicembre 2028 e non prevede pagamenti di capitale programmati prima della scadenza. Dopo l'indebitamento, sono rimasti circa 70 milioni di dollari di disponibilit脿 sulla facility. I prestiti sono stati indicizzati al Term Secured Overnight Financing Rate (SOFR) a un mese pi霉 uno spread del 2,25% e la facility prevede una commissione di impegno dello 0,25%. Il documento segnala che ulteriori termini rilevanti, inclusi i casi che potrebbero accelerare o aumentare gli obblighi, sono descritti nell'Previous Current Report di Digi depositato l'11 dicembre 2023.
Digi International Inc. (DGII) pidi贸 prestados 150 millones de d贸lares en virtud de su actual acuerdo de cr茅dito renovable garantizado senior el 18 de agosto de 2025 en relaci贸n con la firma de un acuerdo de fusi贸n. La l铆nea de cr茅dito vence el 7 de diciembre de 2028 y no exige pagos programados de capital antes del vencimiento. Tras el pr茅stamo, quedaban aproximadamente 70 millones de d贸lares de disponibilidad en la facility. Los pr茅stamos se fijaron al Term Secured Overnight Financing Rate (SOFR) a un mes m谩s un margen del 2,25%, y la facility tiene una comisi贸n de compromiso del 0,25%. El informe indica que otros t茅rminos materiales, incluidas las circunstancias que podr铆an acelerar o aumentar las obligaciones, se describen en el Informe Actual anterior de Digi presentado el 11 de diciembre de 2023.
Digi International Inc. (DGII)電� 頃╇硲 瓿勳暯 觳搓舶瓿� 甏�霠晿鞐� 2025雲� 8鞗� 18鞚� 旮办〈鞚� 靹犾垳鞙� 雼措炒 須岇爠 鞁犾毄 瓿勳暯鞐愳劀 1鞏� 5,000毵� 雼煬毳� 彀瀰頄堨姷雼堧嫟. 鞚� 鞁犾毄 鞁滌劋鞚� 2028雲� 12鞗� 7鞚检棎 毵岅赴霅橂┌ 毵岅赴 鞝勳棎電� 鞗愱笀 靸來櫂 鞓堨爼鞚� 鞐嗢姷雼堧嫟. 彀瀰 頉� 鞁滌劋 雮� 臧�鞖� 頃滊弰電� 鞎� 7,000毵� 雼煬臧� 雮晿鞀惦媹雼�. 彀瀰旮堧Μ電� 1臧滌洈 Term Secured Overnight Financing Rate (SOFR)鞐� 2.25%鞚� 毵堨鞚� 雿旐暅 靾橃鞙茧 毂呾爼霅橃棃瓿�, 鞁滌劋鞐愲姅 0.25%鞚� 鞎届爼 靾橃垬耄�臧� 攵�瓿茧惄雼堧嫟. 鞝滌稖 氍胳劀鞐愲姅 鞚橂毳� 臧�靻嶍檾頃橁卑雮� 歃濌皜鞁滍偓 靾� 鞛堧姅 靸來櫓鞚� 韽暔頃� 於旉皜 欷戩殧頃� 臁瓣贝霌れ澊 2023雲� 12鞗� 11鞚检棎 Digi臧� 鞝滌稖頃� 鞚挫爠 Current Report鞐� 靹る獏霅橃柎 鞛堧嫟瓿� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Digi International Inc. (DGII) a emprunt茅 150 millions de dollars au titre de son accord de cr茅dit renouvelable garanti senior existant le 18 ao没t 2025, en lien avec la conclusion d鈥檜n accord de fusion. La facilit茅 de cr茅dit arrive 脿 茅ch茅ance le 7 d茅cembre 2028 et n鈥檈xige aucun remboursement de principal programm茅 avant cette date. Apr猫s l鈥檈mprunt, il restait environ 70 millions de dollars de disponibilit茅 sur la facilit茅. Les emprunts ont 茅t茅 index茅s sur le Term Secured Overnight Financing Rate (SOFR) 脿 un mois major茅 d鈥檜ne marge de 2,25%, et la facilit茅 comporte une commission d鈥檈ngagement de 0,25%. Le d茅p么t pr茅cise que d鈥檃utres conditions importantes, y compris les circonstances pouvant acc茅l茅rer ou accro卯tre les engagements, sont d茅crites dans le rapport courant ant茅rieur de Digi d茅pos茅 le 11 d茅cembre 2023.
Digi International Inc. (DGII) hat am 18. August 2025 im Zusammenhang mit dem Abschluss eines Fusionsvertrags 150 Millionen US-Dollar im Rahmen seiner bestehenden senior besicherten revolvierenden Kreditvereinbarung aufgenommen. Die Kreditfazilit盲t l盲uft am 7. Dezember 2028 aus und sieht bis zur F盲lligkeit keine planm盲脽igen Kapitalr眉ckzahlungen vor. Nach der Aufnahme verblieben rund 70 Millionen US-Dollar Verf眉gbarkeit in der Fazilit盲t. Die Darlehen wurden mit dem einmonatigen Term Secured Overnight Financing Rate (SOFR) zuz眉glich einer Marge von 2,25% verzinst, und die Fazilit盲t weist eine Commitment-Geb眉hr von 0,25% auf. Die Einreichung weist darauf hin, dass weitere wesentliche Bedingungen, einschlie脽lich der Umst盲nde, die Verpflichtungen beschleunigen oder erh枚hen k枚nnten, im fr眉heren Current Report von Digi vom 11. Dezember 2023 beschrieben sind.
- $150 million of liquidity obtained to support the Merger Agreement
- Approximately $70 million of remaining availability under the Credit Facility after the borrowing
- No scheduled principal payments prior to the facility maturity on December 7, 2028, preserving near-term cash flow flexibility
- Increased indebtedness from the $150 million draw increases funded leverage
- Interest cost tied to one-month Term SOFR + 2.25%, exposing expense to short-term rate movements
- Material acceleration or covenant terms exist (described in a prior filing) which could affect obligations if triggered
Insights
TL;DR: Digi drew $150M of revolver capacity at SOFR+2.25% to support a merger, leaving ~$70M available; maturity in 2028.
The borrowing is a clear liquidity move tied to a specific corporate transaction (Merger Agreement). Using the existing secured revolver preserves flexibility because there are no scheduled amortizations before the December 7, 2028 maturity, which helps near-term cash flow. The all-in cost disclosed (one-month Term SOFR + 2.25% and a 0.25% commitment fee) provides a transparent view of incremental financing expense. Investors should note the filing references prior disclosures for detailed covenants and acceleration triggers, which are material for credit risk assessment.
TL;DR: A $150M draw on the secured revolver increases funded leverage but maintains short-term flexibility with remaining availability and a 2028 maturity.
From a capital structure perspective, the draw increases outstanding secured debt and will raise interest expense tied to short-term SOFR movements plus the stated margin. The remaining ~$70M availability signals the facility was not fully tapped, preserving some liquidity buffer. The reference to previously filed material terms implies covenants and acceleration events exist; reviewing the December 11, 2023 report is necessary to assess covenant headroom and potential triggers tied to the merger.
Digi International Inc. (DGII) ha preso in prestito 150 milioni di dollari nell'ambito del suo attuale accordo senior garantito di credito rotativo il 18 agosto 2025 in relazione alla sottoscrizione di un accordo di fusione. La linea di credito scade il 7 dicembre 2028 e non prevede pagamenti di capitale programmati prima della scadenza. Dopo l'indebitamento, sono rimasti circa 70 milioni di dollari di disponibilit脿 sulla facility. I prestiti sono stati indicizzati al Term Secured Overnight Financing Rate (SOFR) a un mese pi霉 uno spread del 2,25% e la facility prevede una commissione di impegno dello 0,25%. Il documento segnala che ulteriori termini rilevanti, inclusi i casi che potrebbero accelerare o aumentare gli obblighi, sono descritti nell'Previous Current Report di Digi depositato l'11 dicembre 2023.
Digi International Inc. (DGII) pidi贸 prestados 150 millones de d贸lares en virtud de su actual acuerdo de cr茅dito renovable garantizado senior el 18 de agosto de 2025 en relaci贸n con la firma de un acuerdo de fusi贸n. La l铆nea de cr茅dito vence el 7 de diciembre de 2028 y no exige pagos programados de capital antes del vencimiento. Tras el pr茅stamo, quedaban aproximadamente 70 millones de d贸lares de disponibilidad en la facility. Los pr茅stamos se fijaron al Term Secured Overnight Financing Rate (SOFR) a un mes m谩s un margen del 2,25%, y la facility tiene una comisi贸n de compromiso del 0,25%. El informe indica que otros t茅rminos materiales, incluidas las circunstancias que podr铆an acelerar o aumentar las obligaciones, se describen en el Informe Actual anterior de Digi presentado el 11 de diciembre de 2023.
Digi International Inc. (DGII)電� 頃╇硲 瓿勳暯 觳搓舶瓿� 甏�霠晿鞐� 2025雲� 8鞗� 18鞚� 旮办〈鞚� 靹犾垳鞙� 雼措炒 須岇爠 鞁犾毄 瓿勳暯鞐愳劀 1鞏� 5,000毵� 雼煬毳� 彀瀰頄堨姷雼堧嫟. 鞚� 鞁犾毄 鞁滌劋鞚� 2028雲� 12鞗� 7鞚检棎 毵岅赴霅橂┌ 毵岅赴 鞝勳棎電� 鞗愱笀 靸來櫂 鞓堨爼鞚� 鞐嗢姷雼堧嫟. 彀瀰 頉� 鞁滌劋 雮� 臧�鞖� 頃滊弰電� 鞎� 7,000毵� 雼煬臧� 雮晿鞀惦媹雼�. 彀瀰旮堧Μ電� 1臧滌洈 Term Secured Overnight Financing Rate (SOFR)鞐� 2.25%鞚� 毵堨鞚� 雿旐暅 靾橃鞙茧 毂呾爼霅橃棃瓿�, 鞁滌劋鞐愲姅 0.25%鞚� 鞎届爼 靾橃垬耄�臧� 攵�瓿茧惄雼堧嫟. 鞝滌稖 氍胳劀鞐愲姅 鞚橂毳� 臧�靻嶍檾頃橁卑雮� 歃濌皜鞁滍偓 靾� 鞛堧姅 靸來櫓鞚� 韽暔頃� 於旉皜 欷戩殧頃� 臁瓣贝霌れ澊 2023雲� 12鞗� 11鞚检棎 Digi臧� 鞝滌稖頃� 鞚挫爠 Current Report鞐� 靹る獏霅橃柎 鞛堧嫟瓿� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Digi International Inc. (DGII) a emprunt茅 150 millions de dollars au titre de son accord de cr茅dit renouvelable garanti senior existant le 18 ao没t 2025, en lien avec la conclusion d鈥檜n accord de fusion. La facilit茅 de cr茅dit arrive 脿 茅ch茅ance le 7 d茅cembre 2028 et n鈥檈xige aucun remboursement de principal programm茅 avant cette date. Apr猫s l鈥檈mprunt, il restait environ 70 millions de dollars de disponibilit茅 sur la facilit茅. Les emprunts ont 茅t茅 index茅s sur le Term Secured Overnight Financing Rate (SOFR) 脿 un mois major茅 d鈥檜ne marge de 2,25%, et la facilit茅 comporte une commission d鈥檈ngagement de 0,25%. Le d茅p么t pr茅cise que d鈥檃utres conditions importantes, y compris les circonstances pouvant acc茅l茅rer ou accro卯tre les engagements, sont d茅crites dans le rapport courant ant茅rieur de Digi d茅pos茅 le 11 d茅cembre 2023.
Digi International Inc. (DGII) hat am 18. August 2025 im Zusammenhang mit dem Abschluss eines Fusionsvertrags 150 Millionen US-Dollar im Rahmen seiner bestehenden senior besicherten revolvierenden Kreditvereinbarung aufgenommen. Die Kreditfazilit盲t l盲uft am 7. Dezember 2028 aus und sieht bis zur F盲lligkeit keine planm盲脽igen Kapitalr眉ckzahlungen vor. Nach der Aufnahme verblieben rund 70 Millionen US-Dollar Verf眉gbarkeit in der Fazilit盲t. Die Darlehen wurden mit dem einmonatigen Term Secured Overnight Financing Rate (SOFR) zuz眉glich einer Marge von 2,25% verzinst, und die Fazilit盲t weist eine Commitment-Geb眉hr von 0,25% auf. Die Einreichung weist darauf hin, dass weitere wesentliche Bedingungen, einschlie脽lich der Umst盲nde, die Verpflichtungen beschleunigen oder erh枚hen k枚nnten, im fr眉heren Current Report von Digi vom 11. Dezember 2023 beschrieben sind.
FAQ
Why did Digi (DGII) borrow $150 million on August 18, 2025?
What is the interest rate and fees on the DGII revolver borrowing?
How much availability remained on Digi's Credit Facility after the borrowing?
When does Digi's revolving Credit Facility mature?
Are there details about covenants or acceleration events in this filing?
